CZI woos Italians

Published: 27 February 2018

THE Confederation of Zimbabwe (CZI) Industries has signed a memorandum of understanding (MoU) with its Italian counterpart Confindustria to facilitate mutual trade and investment between the two countries.

Last week CZI led a Zimbabwean business delegation to Italy following an invitation by Confindustria. CZI president Mr Sifelani Jabangwe said the visit bore fruits as the 30 companies which were part of the delegation managed to create relationships with potential investors from Italy.

He said the MoU mainly focused on how Zimbabwe can benefit from industrial and technological collaboration between the enterprises and economic institutions of the two countries.

"We signed an MoU with the industrial association of Italy in Reggio Emilia, which now paves way for engagement between Italian and Zimbabwean industries. The delegation that we took, each one of them came back with contacts that they are now pursuing," said Mr Jabangwe.

"We went there to be able to secure technology and equipment from the Italians and that was achieved by the bulk of the delegation.

"We visited three industrial development cities, Rome, Reggio Emilia and Milan. In all the three places we managed to create engagements. We also made engagements with a Germany entrepreneurial development organisation through which we are going to work to develop entrepreneurs in various universities."

The positive international responses come at a time when President Mnangagwa has put emphasis on the country's re-engagement with the global community to create mutually beneficial relationships.

Mr Jabangwe said CZI would continue to push for more linkages for Zimbabwean companies to benefit from engagements and investment opportunities.

"The industrial association in Reggio Emilia, Confindustria, engages with Africa and the Middle East. They said they are going to push their major strategies in Africa through Reggio Emilia. This opened a door for engagement with Italy as Italian companies are looking to invest in Africa, hopefully through Zimbabwe. So this is what we are now going to push for as we will be match making our companies with Italian ones," he said.

Italy is one the largest economies in the world, the third in Europe and seventh in the world and is renowned for its prowess in industrial equipment manufacturing.
- zimpapers

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